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Global Work Glossary

Lost in a maze of global employment jargon? Find your way out with our handy collection of work and HR terminology

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# A B C D E F G H I J L M N O P R S T U V W X Y Z

Outsourcing

What does outsourcing refer to?

Outsourcing is the practice of contracting out specific business tasks or functions to external service providers or third-party organizations. Often, this is a cost-effective way for businesses to improve efficiency across their processes and free up time to focus on their core competencies.

Common areas of business that are outsourced include customer support, manufacturing, and marketing. In a world where an increasing number of teams are working remotely, one of the most essential functions to contract out is recruitment and HR.

With a solution such as Multiplier, organizations can hire the right talent from anywhere in the world without having to set up a legal entity there. Then, they can outsource all benefits administration, taxation, and payroll to ensure that all compliance regulations are met in countries across the world.

Organizations will save time with automated calculations and notifications and a centralized space to store all employee data. Meanwhile, employees will enjoy a seamless experience from onboarding onward with an easy-to-use dashboard.

Ready to take the leap? Choose Multiplier as your EOR partner

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